The SK E&S exhibition hall at the '2024 Climate Industry International Expo (WCE)' held from the 4th to the 6th at BEXCO in Busan. Photo by SK E&S
SK E&S will participate in an international event that presents directions for responding to the climate crisis and the global energy industry, showcasing a package of low-carbon and eco-friendly energy solutions. SK E&S announced on the 4th that it will participate in the 2024 World Climate Industry Expo (WCE), held from the 4th to the 6th at BEXCO in Busan.
Now in its second year, the 2024 WCE is held under the theme "Opening the Carbon-Free Energy (CFE) Era with Climate Technology," bringing together climate and energy experts and over 500 companies worldwide to discuss the latest technologies and policies aimed at addressing the global climate crisis and achieving carbon neutrality goals.
At this expo, SK E&S will organize zones around five themes: ▲ Low-carbon Liquefied Natural Gas (LNG) and Carbon Capture and Storage (CCS) ▲ Renewable Energy and RE100 ▲ Hydrogen ▲ Energy Solutions ▲ CFE City, introducing the status of eco-friendly technologies in each business area.
First, in the "LNG and CCS" zone, visitors can explore the "low-carbon LNG" business applying CCS technology across the entire spectrum from natural gas production to distribution and consumption. A "CCS Game Zone" is also set up where visitors can directly experience how carbon dioxide is captured, stored, and permanently isolated.
Starting from the third quarter of next year, SK E&S plans to begin production at the Barossa-Kaladita (CB) gas field in Australia using CCS technology, directly importing approximately 1.3 million tons of low-carbon LNG annually to Korea. The CB gas field not only contributes to national energy security through long-term stable gas supply but also secures world-class cost competitiveness, which is expected to significantly enhance the profitability of the merged SK Innovation entity.
In the Renewable Energy and RE100 zone, major renewable energy sites such as the Imjado Solar Power Plant (100 MW) and Jeonnam Offshore Wind Power (900 MW) will be exhibited, along with the expansion status of RE100 solution businesses. As of the first half of this year, SK E&S holds a 4.6 GW pipeline, making it the largest renewable energy operator in Korea. By signing over 30 power purchase agreements (PPAs) with numerous companies, SK E&S secured a 77% market share in the domestic RE100 market as of the end of last year, supporting export companies in fulfilling their RE100 commitments.
At the Hydrogen Energy corner, key themes include co-firing power generation that reduces carbon dioxide emissions and building a hydrogen mobility ecosystem using liquefied hydrogen. SK E&S is promoting the establishment of a blue hydrogen production facility in Boryeong, Chungnam, and plans to lead the construction of the "Korea Hydrogen Mobility Ecosystem" by supplying liquefied hydrogen through the world's largest liquefied hydrogen plant in Incheon, with an annual production capacity of 30,000 tons.
In the Energy Solutions zone, differentiated technologies such as domestic and international smart grid solutions and electric vehicle charging business status will be showcased. SK E&S acquired Busan Jeonggwan Energy, the largest private distribution network in Korea, in 2021 and is promoting an energy solutions business capable of optimal integrated operation of power generation, distribution, and demand. In the same year, SK E&S acquired Key Capture Energy (KCE), a leading US ESS-based grid solutions company, laying the foundation for stable and efficient energy supply and strengthening its energy solutions business. In 2022, through the acquisition of Korea's largest parking platform "Parking Cloud," SK E&S provides a one-stop service from parking to charging and payment via an app, while its subsidiary EverCharge operates about 10,000 electric vehicle chargers across North America.
The CFE City zone is designed to provide a comprehensive view of a future city applying various eco-friendly energy technologies of SK E&S. With the expansion of artificial intelligence (AI) and data centers, SK E&S is focusing on supplying clean energy stably and efficiently. With the upcoming merger with SK Innovation, SK E&S plans to maximize integrated synergy effects as a "comprehensive energy company" in the future.
Choo Hyung-wook, CEO of SK E&S, said, "The world is accelerating the supply of low-carbon and eco-friendly energy that offers practical alternatives to solve the climate crisis and strengthen energy security." He added, "After merging with SK Innovation, SK E&S will evolve into a 'Total Energy & Solutions Company' leading the carbon-free energy era."
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